An Incisive, In-depth Analysis on the Fire Pump Test Meters Market
This study offers a comprehensive, 360 degree analysis on the Fire Pump Test Meters market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Fire Pump Test Meters market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
High adoption of fire pump test meters in industrial plants for the measurement of flow rate
Growing demand for fire protection systems in the industrial manufacturing industries have a significant impact on the growth of the fire pump test meters market. Fire pump test meters are used for the flow measurement of gases and liquid flows in fire pump systems. Due to the significant expansion of the oil, gas and chemical industries in various countries around the world, Future Market Insights believes that the fire pump test meters market will witness a considerable growth rate during the forecast period. In addition, the better performance of industries, such as power generation, pulp & paper and fire protection, is expected to create potential growth opportunities for the fire pump test meters market.
The high adoption of fire sprinklers and fire protection systems in various industries is also generating the rapid demand for fire pump test meters. Moreover, the continuous innovation and development of fire sprinklers and fire protection equipment in various countries is driving the fire pump test meters market. For instance, according to the president of A.R.T. Fire Protection, Inc., “The business of fire sprinklers was very good in 2017, and the market is strong in British Columbia, Canada.” Furthermore, rapid industrialisation in various emerging economies, such as China, India, Brazil and Russia, is creating a high demand for fire pump test meters. For instance, according to the India Brand Equity Foundation, “The oil & gas industry in India is growing robustly and players are undertaking investments to cater to the escalating demand”. Moreover, the industry is expected to attract investments amounting to US$ 25 Billion in exploration and production by 2022.” These factors are boosting the growth of the fire pump test meters market.
Extensive demand for quality-tested and customisable fire pump test meters
With the recent developments in fire protection systems, the demand for fire pump test meters with additional levels of accuracy is increasing rapidly. Moreover, increase in the demand for customised fire pump test meters to meet construction requirements is propelling the growth of the fire pump test meters market. For instance, GVIFlow, an American company that offers fire pump test meters and fire suppression accessories, recently introduced a digital gauge in its fire pump test meters, which has a 4-20 ma output and can transmit flow data back to the laptop, controller or software. Moreover, the growing demand for fire pump test meters that can withstand difficult environments is propelling the fire pump test meters market.
Stringent regulations and growing demand for Factory Mutual (FM)-approved fire pump test meters
Various associations and regulatory bodies have defined a set of standards that are needed to provide an essential level of security for fire protection systems. These standards and regulations are playing an important role and are creating high demand for fire pump test meters. Moreover, with steady growth in infrastructure in various countries around the world, the usage of high-performance fire protection systems is not only critical, but also necessary. Various providers of fire pump test meters are focusing on providing FM-approved and National Institute of Standards and Technology (NIST)-traceable calibrations. These are the some of the key standards that are contributing to the growth of the global fire pump test meters market.
APEJ is expected to strengthen its dominance owing to rapid growth in the oil & gas and power generation sectors
Asia Pacific excluding Japan is expected to hold a significant market share in the global fire pump test meters market during the forecast period. Rapid developments in oil & gas industries and high growth in power generation industries are creating high demand for fire pump test meters. Moreover, expanding investments in oil & gas and power generation sectors by countries in the region, such as India and China, are expected to drive the fire pump test meters market in APEJ. In addition, China and India are ranked 1st and 3rd respectively in terms of electricity generation, and the increasing demand for fire protection systems in these industries is driving the fire pump test meters market. Furthermore, increasing infrastructure development in the countries of APEJ is also supporting the demand for fire pump test meters.
For instance, in December 2018, the Government of India planned to invest around US$ 10 billion to expand the gas pipeline network across the country. Furthermore, Oil & Natural Gas Corporation in India is planning to invest approximately US$ 2.7 billion in drilling oil & gas wells in 2018-2019. These investments in end use sectors are supporting the growth of fire pump test meters market.
Partnerships and new product innovations remain the key strategies of vendors
The providers of fire pump test meters are continuously focusing on the development of advanced technology products with the latest standards, as well as on entering into partnerships with other local providers of fire pump test meters. For instance, in June 2018, Victaulic announced the launch of an FM-approved and UL-listed line of Firelock IGS grooved sprinklers and FireLock IGS style V9 sprinkler coupling, which can be easily reconfigured and installed. Some of the key players in the fire pump test meters market are GVI Flow, Victaulic Company, Rapidrop Global, Ltd., Guardian Fire Equipment, Inc., Gerand Engineering, MECON GmbH, Ayvaz, Badger Meter, Inc., Anvil International and Akron Brass.
Report Synopsis
Future Market Insights (FMI) offers an 8-year forecast for the fire pump test meters market between 2019 and 2027. In terms of value, the fire pump test meters market is expected to register a single-digit CAGR during the forecast period. The study provides the global market dynamics and trends across six regions: North America, Latin America, Europe, Japan, APEJ and MEA, which influence the current nature and the future status of the fire pump test meters market over the forecast period.
Fire Pump Test Meters Report Description
This research report provides a detailed analysis of the fire pump test meters market and offers insights on the various factors driving the popularity of fire pump test meters. The fire pump test meters market report includes an extensive analysis of the key industry drivers, challenges, market trends and market structure. The fire pump test meters market study provides a comprehensive assessment of the stakeholder strategies and imperatives for succeeding in the business. The fire pump test meters market report includes the market segmentation on the basis of pipe size, body type, end use and region.
The fire pump test meters market is expected to witness significant value and volume growth during the forecast period, owing to the high demand for fire protection system and rapid industrialisation in various countries around the world.
The global fire pump test meters market report starts with an overview of the fire pump test meters market in terms of value and volume. In addition, this section includes an analysis of the key trends, drivers and challenges from the supply, demand and economy side, which are influencing the fire pump test meters market.
On the basis of pipe size, the fire pump test meters market has been segmented into 1-5 inches, 5.1-9 inches and 9.1-12 inches. On the basis of body type, the fire pump test meters market has been segmented into grooved, flanged and others. On the basis of end use, the fire pump test meters market has been segmented into oil, gas & chemicals, power generation, manufacturing, fire protection, pulp & paper, and other industries.
A detailed analysis has been provided for every segment in terms of market size analysis for the fire pump test meters market across different regions. This section provides a detailed analysis covering the key trends prevalent in the global fire pump test meters market.
The next section of the global fire pump test meters market report covers a detailed analysis of the fire pump test meters market across various countries in the region. It provides an outlook for the fire pump test meters market for 2019–2027, and sets the forecast within the context of the fire pump test meters market. This study discusses the key trends within countries contributing to the growth of the fire pump test meters market as well as analyses the degrees at which the drivers are influencing fire pump test meters market in each region. The key regions and countries assessed in the fire pump test meters market report include North America (the U.S. & Canada), Latin America (Brazil, Mexico & the rest of Latin America), Europe (Germany, U.K., Italy, France, Russia & the Rest of Europe), Japan, APEJ (China, India, Malaysia, Thailand, Australia & the rest of APEJ) and MEA (GCC Countries, Turkey, South Africa & the rest of MEA). This report evaluates the present scenario and the growth prospects of the fire pump test meters market across various regions globally for the period 2019 –2027. We have considered 2018 as the base year, and provided data for the remaining 12 months.
To offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the fire pump test meters market is expected to grow in the future. Given the characteristics of the global fire pump test meters market, we have triangulated the outcomes of different types of analysis based on the technology trends.
As previously highlighted, the global fire pump test meters market has been split into a number of segments. All segments on the basis of pipe size, body type, end use and region have been analysed in terms of basis points to understand the relative contribution of each individual segment to the growth of the fire pump test meters market. This detailed information is important for the identification of various key trends in the global fire pump test meters market.
In addition, another key feature of the global fire pump test meters market report includes the analysis of all the key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market, however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify the potential resources from a sales and delivery perspective in the global fire pump test meters market.
In the final section of the global fire pump test meters market report, we have included a competitive landscape to provide clients a dashboard view based on the categories of providers in the value chain, their presence in the fire pump test meters market and key differentiators. This section is primarily designed to provide clients an objective and detailed comparative assessment of key providers specific to a segment of the fire pump test meters supply chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate the key competitors based on an in-depth assessment of their capabilities and success in the fire pump test meters market. Some of the key competitors covered in the fire pump test meters market report are GVI Flow, Victaulic Company, Rapidrop Global, Ltd., Guardian Fire Equipment, Inc., Gerand Engineering, MECON GmbH, Ayvaz, Badger Meter, Inc., Anvil International and Akron Brass.
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